Press release
With Medicare's Annual Enrollment Period Days Away, Higher Costs and Benefit Changes Top Beneficiaries' Concerns
Medicare sustainability is a top-three voting issue for 84% of Medicare beneficiaries, according to eHealth original research AUSTIN, Texas, Oct. 8, 2024
About this update from Ehealth, Inc.
[{"type":"text","content":"Medicare sustainability is a top-three voting issue for 84% of Medicare beneficiaries, according to eHealth original research\nAUSTIN, Texas, Oct. 8, 2024 /PRNewswire/ -- With Medicare's Annual Enrollment Period starting next week, new research from eHealth, Inc. (NASDAQ: EHTH) (eHealth.com), a leading private online health insurance marketplace, finds that beneficiaries are entering what is expected to be one of the most disruptive Annual Enrollment Periods in years fearful of cost increases and changes to their benefits.\nIn a survey of more than 1,200 Medicare beneficiaries, eHealth identified enrollees' top-three fears:\n73% are worried about their out-of-pocket costs53% are worried about changes to their Medicare plan benefits50% are worried about their prescription drug coverage\"Many Medicare Advantage and Part D plan enrollees could see significant changes to out-of-pocket costs and core and supplemental benefits in 2025,\" said eHealth CEO Fran Soistman. \"As our report shows, beneficiaries are worried about the future, not just their ability to pay for the rising cost of their healthcare, but also for the future of Medicare in general. Further, our research shows beneficiaries are overwhelmingly happy with their Medicare coverage and want to see that level of coverage continue without dramatic premium and out-of-pocket cost increases.\"\nAdditional highlights from the report:\nMedicare sustainability is on voters' minds: 84% of beneficiaries say that ensuring the future of the Medicare program is one of their top-three voting priorities in this year's presidential election. Beneficiaries are satisfied with their coverage, but few are informed about changes coming in 2025: 92% of Medicare Advantage enrollees and 95% of Medicare Part D plan enrollees are satisfied with their current plans but only three in 10 have read their Annual Notice of Change letter.Beneficiaries want an Annual Enrollment Period (AEP) extension: Given the distraction of the presidential election and the late Thanksgiving holiday, 75% of beneficiaries would like to see AEP extended this year.Mr. Soistman continued: \"Earlier this year, eHealth encouraged CMS to consider an extension of this year's Medicare Annual Enrollment Period (AEP). This is a year of great change and with change comes confusion and stress. Several millions of Medicare beneficia...